Warner Est. Hldgs. - Acquisition Completed

RNS No 2158c
WARNER ESTATE HOLDINGS PLC
28th January 1998


      WARNER ESTATE IN #4.5 MILLION PORTFOLIO ACQUISITION

Warner  Estate  Holdings  PLC, the UK property  investor,  has
completed  the acquisition for #4.5 million of a portfolio  of
retail and office properties as a medium term investment.  The
annual rental income of #410,000 provides an initial yield  of
just over 9 per cent.

The properties are retail premises in Dorchester, Nantwich and
Scunthorpe and office premises in Bath and Windsor.   All  the
shops  are let to multiple retailers and the offices are fully
let  to established covenants.  The average unexpired term  of
the leases is in excess of 15 years.

The  vendor is Ropner Investment Property Limited,  which  was
represented by Edgerley Simpson.  The portfolio was introduced
to Warner Estate by Crowson Bellman Gill Adams.

Andrew  Batty, Warner Estate's Property Director,  stated  "In
the  past year, Warner Estate has acquired five portfolios for
a  total  of some #32 million and, in joint venture, a further
four  for  a total of approximately #31 million, all having  a
strong  retail emphasis.  Warner Estate remains in the  market
for acquisitions, either solus or in joint venture."

Enquiries:

Warner Estate Holdings PLC
  Andrew Batty                                   0171-493 6480
  Jim Neill                                      0171-487 3312

Walter Judd Public Relations                     0171-236 4541
  Charlie Ponsonby

END



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